Real Estate

Ottawa Real Estate market discussion

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  • Jan 21st, 2020 2:33 am
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Deal Addict
Jan 15, 2017
2688 posts
2044 upvotes
^^^ Great points. The other thing to keep in mind about converting the town to an AirBnB is the problem with it now - it has already gained the attention of the neighbours for noise and parking complaints. This will likely not change and the landlord will most likely be dealing with constant complaints. For most neighbours, it takes constant interruptions before they start to make complaints, but once they start, they are not likely to let up.
Deal Addict
Jul 4, 2004
4995 posts
1073 upvotes
Ottawa
canabiz wrote:
Jul 8th, 2019 11:08 pm
One of my friend recently found out the daughter of her tenant has been renting out her property on AirBnB. There have been noise and traffic complaint from the neighbours.
...
Your thoughts on this situation? Have you come across such a scenario (or know people who did) and if so what did you/your acquaintances do?
If it was me, I would maybe do a bit of investigating to see if the complaints are legit but from my experience people like to complain and will find any reason to do it (I offered my 2 apartment on AirBnb for a couple of years (until the condo amended the rules to ban it) and some of the neighbors hated it but other than 1 bad guest, all the other ones were better than the tenant that used to be in the unit and were better than many of the long term tenants in the building (some of which are loud, smoke in non-smoking areas, leave the building doors unlocked, etc).

Personally, if the tenant is a good one, who cares if they offer the unit on AirBnb during the summer? If they want to evict the tenant then you can certainly try to use that (although it's certainly possible that the tenant will simply say they'll stop so you might not be able to evict them anyway).

As far as offering it on AirBnb yourself, especially through a management company, I don't think it's worth it if you already have a good long term tenant. As jk9088 pointed out, unless you raise the daily rate significantly, you aren't really making more much money and a management company would certainly take most (all) of that extra profit away (I've never looked into it but I wouldn't be surprised if a company would charge 20-30% of the rental rate). When I was AirBnb-ing mine, I would plan for 75% occupancy although I believe it was easily over 90% throughout the year (there's a significant demand from all sorts of people). That said, I made $90/night for small, cheap 1 bedroom apts that have a market value of maybe $150k. And it's certainly more work than long term tenants (although I did find that my tenants were better, there's no hassle dealing with money and it's much easier to keep on top of maintenance).

In any case, I think if you want more opinions and discussions on AirBnb, you should ask in an AirBnb thread as this really isn't specific to the Ottawa RE market.
Deal Addict
Dec 4, 2016
1547 posts
677 upvotes
canabiz wrote:
Jul 8th, 2019 11:08 pm
One of my friend recently found out the daughter of her tenant has been renting out her property on AirBnB. There have been noise and traffic complaint from the neighbours.

The tenant, for all intent and purpose, has been a model one but he is usually out of the country for a good chunk of the summers and this is where the enterprising daughter came into the picture. It is believed she was charging $90/day for this rental on AirBnB and it has been booked solid. It is a typical older 3-bedroom townhouse in Barrhaven so I was surprised it has been attractive to AirBnB guests. I guess the rate is cheaper than a hotel room and you have access to the kitchen/backyard/basement so it is ideal for a family staying in town for the short-term.

With all that said, my friend is planning to evict the tenant and sell the rental. I told her to re-evaluate the situation and consider evicting the tenants then do AirBnB herself. Why let people pull a fast one on you? She is concerned about the amount of work she may have to put in but I told her there are companies out there specializing in AirBnB management, you just have to find a good one.

Your thoughts on this situation? Have you come across such a scenario (or know people who did) and if so what did you/your acquaintances do?
Please keep us posted on how the eviction process goes. Whether the owner wants to AirBnB or not, the tenant is subletting the place without the owner's consent, and that's not OK in my book.
Member
May 23, 2017
397 posts
182 upvotes
Zero Hope wrote:
Jun 13th, 2019 12:55 am
I didn't know the existence of this website... Very cool. I wonder who is running it?

Minto Townhomes in Harmony are significantly more expensive than the previous release and these prices are also higher than the May 11 Arcadia releases too.

mid-unit haven for 440k (previous release 395k, an increase of 45k or 11%)
mid-unit laguna for 443k (previous release 398k, an increase of 45k or 11% )
mid-unit monterey 448k (previous release 406k, an increase of 42k or 10%)
monterey end 456k (previous release 413k, an increase of 43k or 10%)
tahoe end 466k (previous release 433k, an increase of 33k or 7.6%)

https://www.minto.com/ottawa/new-homes/ ... homes.html

I wonder when townhomes will hit the 500k mark without upgrades lol. Its getting crazy.
Update: I got an email that Minto Harmony is now sold out. Don't know how many units were available for this last release but I am impressed it took less than a month for them to sell out at these ridiculous prices, can't believe people are willing to pay this.

There's a resale townhouse in Barrhaven listed for $499k right now, I think it's wayyyyy overpriced but we'll see if it sells for close to that. I seriously can't believe Barrhaven townhouses may soon be breaking the half million mark...insane.

Minto will be releasing Harmony phase 3 (I believe it may be located just behind phase 1) next year in 2020 so it'll be interesting to see what prices they come up with then. (Not sure if they will be offering detached or townhouse or both though.)
Member
May 23, 2017
397 posts
182 upvotes
jk9088 wrote:
Jul 11th, 2019 4:50 pm
There's a resale townhouse in Barrhaven listed for $499k right now, I think it's wayyyyy overpriced but we'll see if it sells for close to that. I seriously can't believe Barrhaven townhouses may soon be breaking the half million mark...insane.
I just went to check out this listing again and it is no longer there. Don't know if it actually sold or the owner took it down to be re-listed. I really thought it was going to sit for a looong time at that price so I'm quite surprised. Then again, inventory for townhomes in that area is still ridiculously low so maybe someone was actually desperate enough to overpay. Anyone with access to sold data (calling @michelb? :P) able to look it up to satisfy my curiosity? Address is 165 Maravista.
Deal Addict
Jul 4, 2004
4995 posts
1073 upvotes
Ottawa
jk9088 wrote:
Jul 11th, 2019 8:30 pm
I just went to check out this listing again and it is no longer there. Don't know if it actually sold or the owner took it down to be re-listed. I really thought it was going to sit for a looong time at that price so I'm quite surprised. Then again, inventory for townhomes in that area is still ridiculously low so maybe someone was actually desperate enough to overpay. Anyone with access to sold data (calling @michelb? :P) able to look it up to satisfy my curiosity? Address is 165 Maravista.
Listing is marked as cancelled. Not sure why they would do that after such a short period of time (it was only listed for about a week and a half).

Maybe they owners were planning on buying another house which they didn't get.
Deal Addict
Dec 4, 2016
1547 posts
677 upvotes
jk9088 wrote:
Jul 11th, 2019 4:50 pm
Update: I got an email that Minto Harmony is now sold out. Don't know how many units were available for this last release but I am impressed it took less than a month for them to sell out at these ridiculous prices, can't believe people are willing to pay this.

There's a resale townhouse in Barrhaven listed for $499k right now, I think it's wayyyyy overpriced but we'll see if it sells for close to that. I seriously can't believe Barrhaven townhouses may soon be breaking the half million mark...insane.

Minto will be releasing Harmony phase 3 (I believe it may be located just behind phase 1) next year in 2020 so it'll be interesting to see what prices they come up with then. (Not sure if they will be offering detached or townhouse or both though.)
That part of Barrhaven is semi running out of land, so I'm not surprised. Nobody wants to buy the flood plain stuff from Caivan, and new build south of jock river are as good location wise, being so far from amenities.
Sr. Member
Aug 6, 2011
510 posts
204 upvotes
I've seen townhouses recently sold in Riverview Parkn for around 500K and more through bidding wars . In March, there was one sold 430Kish in the same area. Not a 100% comparable less updated, but still,
Member
May 23, 2017
397 posts
182 upvotes
BlueSolstice wrote:
Jul 12th, 2019 10:07 am
That part of Barrhaven is semi running out of land, so I'm not surprised. Nobody wants to buy the flood plain stuff from Caivan, and new build south of jock river are as good location wise, being so far from amenities.
Caivan is sold out now too. (For now anyways, the remaining lots won't be released until much later.) However, there is a lot of land right behind town centre that is earmarked for tons of townhouses and some low-rise condos that I believe will be released soon (several builders involved including Caivan, Richcraft, Claridge...). I'd say that area is pretty prime location as well (very close to amenities). Will be interesting to see how those are going to be priced.
Newbie
Oct 16, 2017
18 posts
1 upvote
Hi

Does anyone know of any real estate agents that deal with rentals? We are moving and looking to rent for our first year, with plans to buy in year 2 if we stay.

Thanks!
Deal Addict
Jan 15, 2017
2688 posts
2044 upvotes
For anyone interested, received an email from Mattamy. They will be having another release tomorrow in their Summerside Community in Orleans. Ten towns and 6 detached being released.
Deal Addict
User avatar
Oct 29, 2002
2387 posts
85 upvotes
Ottawa
jk9088 wrote:
Jul 11th, 2019 4:50 pm

Minto will be releasing Harmony phase 3 (I believe it may be located just behind phase 1) next year in 2020 so it'll be interesting to see what prices they come up with then. (Not sure if they will be offering detached or townhouse or both though.)
Will Phase 3 be there or west of Phase 2? I thought they had some land surrounding the privately-owned property.
If it's south of Phase 1, then that'll be a really small area because Caivan has the land south of the proposed new Chapman Mills Drive.
Member
May 23, 2017
397 posts
182 upvotes
TheGame wrote:
Jul 12th, 2019 5:04 pm
Will Phase 3 be there or west of Phase 2? I thought they had some land surrounding the privately-owned property.
If it's south of Phase 1, then that'll be a really small area because Caivan has the land south of the proposed new Chapman Mills Drive.
It could definitely be west of Phase 2 as well, I'm just guessing here! The land west of Phase 2 is rather oddly shapely since it wraps around the Clarke family lands which is a very irregularly-shaped, large lot (so I feel like it would be awkward to design a site plan around), whereas the area south of Phase 1 is a neat rectangle which would be easy to make into another development and in fact has already been earmarked for residential. In another forum there were also people currently living in Harmony Phase 1 that mentioned it seems like work is being done in the area directly behind Phase 1, which led me to believe that Minto is prepping that land for development next.

And that area is not small at all actually, I think it's nearly as large as phase 1 itself (maybe about 80%? I'm just eyeballing it though), and actually bigger than phase 2. But I definitely don't know any solid info about phase 3, we'll just have to wait and see what Minto releases next.

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